Tether is partnering with video streaming platform Rumble to launch a crypto wallet powered by its technology later this year. CEO Paolo Ardoino revealed the plans at TOKEN2049 in Singapore, describing the initiative as key to driving adoption of USAT among Rumble's user base.
The stablecoin issuer aims to convert Rumble's 51 million monthly active users, predominantly based in the United States, to utilize stablecoins within domestic financial infrastructure. Ardoino characterized the U.S. as the most sophisticated nation for financial rails.
Tether announced a $775 million investment in Rumble last year and currently holds an approximately 48% stake in the social media platform, according to Bloomberg data. The partnership positions the video platform as a distribution channel for Tether's newest stablecoin product.
The company launched USAT last month as a dollar‑backed Ethereum stablecoin designed specifically for U.S. users. The product aims to build on USDT's global presence under a U.S. regulatory framework, complementing the world's largest stablecoin, which maintains a supply of $174.6 billion.
Tether generated approximately $13 billion in profits during 2024 while expanding operations beyond cryptocurrency. The company is pursuing ventures in telecommunications and energy infrastructure sectors.
Bloomberg reported last week that Tether is negotiating with investors to raise up to $20 billion at a $500 billion valuation. The potential funding would enable significant expansion into new sectors and geographic markets.
Ardoino outlined ambitious plans for Africa at TOKEN2049, projecting the company could scale to between 100,000 and 150,000 kiosks across the continent by 2030. He described this as creating a massive economy around USDT and the dollar in a region showing strong interest in such infrastructure.
The expansion targets Africa's energy infrastructure sector specifically. Tether views the region as offering substantial growth opportunities for dollar‑based Ethereum digital transactions and financial services delivery through physical kiosk networks.